All categories

2 years ago

Job-Order Costing and Decision Making [LO2-1, LO2-2, LO2-3]

Business

1 answer:

Anastaziya [24]2 years ago

7 0

Answer:

a. $21 per machine hours

b. $4,855

Explanation:

a. The computation of the plantwide predetermined overhead rate is shown below:

Plantwide predetermined overhead rate is

= Variable overhead cost rate per machine hour + Fixed overhead cost rate per machine hour

= $2 + (fixed manufacturing overhead cost ÷ Estimated machine hours)

= $2 + ($4,275,000 ÷ 225,000 machine hours)

= $2 + $19

= $21 per machine hour

b. Now the total manufacturing cost assigned is

Particulars Amount

Direct material $1,702

Direct labor $1,221

Variable manufacturing overhead $168

(84 × $2)

Total variable cost $3,091

Add:

Fixed manufacturing overhead

(84 × $21) $1,764

Total manufacturing cost assigned

to Job P90 $4,855

You might be interested in

Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales of $10,000,000 and cost of

Elden [556K]

Answer:

$10,140,000

Explanation:

To make consolidated statements company needs to consolidate the financial data of its own and its subsidiary.

Revenue can be consolidated of parent and subsidiary as follow:

First

Add revenue of both companies

Total Sales = Patti Company sales + Shannon Inc. sales

Total Sales = $10,000,000 + $200,000 = $10,200,000

Now deduct the sale made to each other because sales mad within the group is not recorded for consolidation purposes and it is not a sale for a group it is an internal group transfer.

Consolidated Sales = Total sales - Internal Sales

Consolidated Sales = $10,200,000 - $60,000 = $10,140,000

8 0

3 years ago

Whick of the following terms applies to the way that society as a wholr earns and spends money?

VikaD [51]

It's impossible to choose a correct option as you've not attached any of it. Anyway I think that you mean the term which is called <span>APPROVED BUDGET.</span>

8 0

3 years ago

A man has $34,000 to invest. He invests some of the money at 5% and the balance at 4%. His total annual interest income is $1545

notka56 [123]

Answer:

Amount invested @ 5% = $18,500

Amount invested @ 4% = $34,000 - $18,500 = $15,500

Explanation:

Provided we have the following details,

Total investment = $34,000

Let amount invested @ 5% = x

Then, amount invested at 4% = $34,000 - x

Thus, $(x \times 0.05) + (($34,000 - x) \times 0.04) = $1,545$

0.05x + $1,360 - 0.04x = $1,545

0.01x = $1,545 - $1,360 = $185

x = $185/0.01 = $18,500

Thus, amount invested @ 5% = $18,500

Amount invested @ 4% = $34,000 - $18,500 = $15,500

7 0

2 years ago

If the Fed purchases government securities from a commercial bank, which of the following will happen?a.The Fed will increase th

solniwko [45]

Answer:

The correct answer is letter "E": "A" and "B".

Explanation:

In order to accomplish its monetary policy, the Federal Reserve (<em>Fed</em>) buys and sells securities in the open market to control the money supply. If there is more money supply in the open market, loan rates will decrease allowing investors to access more capital. At the same time, the Fed reserves and assets will increment.

3 0

2 years ago

the clause in a mortgage that best describes the requirement of the mortgagee to execute a satisfaction of mortgage when the not

pashok25 [27]

The clause in a mortgage that best describes the requirement of the mortgagee to execute a satisfaction of mortgage when the note has been fully paid is <u>defeasance</u>

<u></u>

<h3>What Is Defeasance?</h3>

When the borrower sets aside cash or bonds big enough to pay the obligation, the contract's defeasance clause renders the bond or loan worthless on the balance sheet. The outstanding debt and cash balance on the balance sheet are equal, thus they do not need to be reported because the borrower sets aside funds to pay down the bonds.

Buying commercial real estate is one instance of using defeasance. Due to commitments to bondholders having a stake in the commercial mortgage-backed securities (CMBS) that houses the loan, commercial loans may have hefty prepayment penalties in contrast to home mortgages.

To learn more about defeasance from given link

brainly.com/question/17253783

#SPJ4

5 0

2 years ago